Wolseley sees higher revenues

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The Independent Online

Wolseley revealed a rise in like- for-like revenues yesterday, when the building supplies group received a boost from an uptick in the US, its largest market.

The company said the revenues were 6 per cent over its third quarter, with trading profits climbing by 30 per cent. But the group did not shed any further light on the possible disposal of its Build Center business in the UK.

Recent speculation has suggested that the division may be up for sale, but chief financial officer John Martin said the arm was still under review, along with other parts of the firm.

"We will be improving the performance of these businesses, and then either we classify them for rention in the group or sell them," he said. "We haven't recategorised Build Center."